At your closing you will sign a small stack of documents, and it helps to know what each one does before you pick up the pen. Let me walk you through what a seller signs in Virginia, so nothing on the table is a mystery.
Written by Adam L. Engel, Esq., Principal and real estate attorney at Prime Title & Escrow
A seller’s signing is usually shorter than a buyer’s, because you are not taking out a loan. Still, the documents you sign carry real weight, the deed most of all. Here is what to expect and what each item means for you.
The central document is the deed, which transfers the property to the buyer. You also sign the settlement statement showing the money, plus supporting items like the grantor’s tax declaration and a non foreign status certification. I prepare these and review each with you before you sign.
The deed
The deed is the heart of your closing. It is the legal instrument that conveys ownership from you to the buyer, and you sign it in front of a notary so it can be recorded in the local land records. I prepare the deed for your sale and explain what type it is, which I cover in how the deed transfers ownership. Once it is recorded, the transfer is official.
The settlement statement
The settlement statement is the accounting of your sale. It shows your sale price, your mortgage payoff, your share of closing costs, the grantor’s tax, prorated property taxes, any credits to the buyer, and your net proceeds at the bottom. You sign it to confirm the numbers, and I prepare it so you can review the figures in advance, not for the first time at the table. The math behind it is what I explain in seller net proceeds.
The supporting documents
Around the deed and settlement statement sit a few smaller items. There is usually a grantor’s tax declaration tied to the Virginia grantor’s tax, a non foreign status certification, and depending on your situation, items like a payoff authorization or an owner’s affidavit confirming there are no undisclosed liens or work on the property. Each is routine, and I tell you what each one is for as we go.
One document worth a word of explanation is the non foreign status certification, sometimes called a FIRPTA certification. Federal law can require tax withholding when a foreign person sells real estate, so sellers certify whether they are a foreign person for tax purposes. The large majority of sellers simply certify they are not, and the matter ends there. If it does apply to you, it is better to know early, so I raise it well before closing.
Signing options
You do not always have to sign in person. Many sellers do, but remote and mail away signings are common, and a sale can be handled under a power of attorney if you cannot attend, which I cover in closing with a power of attorney. If travel or distance is a concern, tell me and I will arrange a signing that fits.
It also helps to bring a valid, current photo identification to your signing, since your signature on the deed has to be notarized and the notary will need to confirm who you are. If your name has changed since you took title, for example through marriage or divorce, let me know in advance, because the deed has to match how you hold title and we may need a document bridging the two names. Small details like these are easy to handle when I know about them early. Sorting them out at the table, by contrast, is what holds up a closing.
None of these documents should feel like a leap of faith. Whether you are selling in Virginia or West Virginia, I prepare your paperwork, explain each item, and make sure you understand what you are signing before you sign it.
Send me your contract and I will prepare your deed and settlement statement and walk you through everything you will sign at closing.
Get Your Free Quoteor call (703) 552-4155Frequently asked questions
What does a seller sign at closing in Virginia?
The central document is the deed, which transfers the property to the buyer. You also sign the settlement statement showing the money, and supporting items such as the grantor’s tax declaration, a non foreign status certification, and any documents your situation requires. I review each one with you.
What is the deed?
The deed is the legal document that conveys ownership of the property from you to the buyer. You sign it before a notary, and it gets recorded in the local land records to make the transfer official. It is the heart of a seller’s closing.
What is the settlement statement?
The settlement statement is the accounting of the transaction. For you, it lays out your sale price, your mortgage payoff, your closing costs, the grantor’s tax, prorations, and your net proceeds. You sign it to confirm the figures.
Do I have to sign in person?
Not necessarily. Many sellers sign in person, but remote and mail away closings are common, and a sale can be handled under a power of attorney if you cannot attend. Tell me your situation and I will arrange a signing that works.
What is a non foreign status certification?
It is a statement, sometimes called a FIRPTA certification, where you certify whether you are a foreign person for tax purposes. It matters because the sale of property by a foreign seller can trigger federal tax withholding. Most sellers simply certify they are not foreign persons.
This article is general information about seller closing documents in Virginia and West Virginia. It is not legal or tax advice for your specific transaction, and the exact documents depend on your sale. Please confirm the details with me directly.